Results from a new survey released today by eHealth, Inc. show that while more than three quarters (78%) of Medicare beneficiaries are happy with their current Medicare plan, 79% also intend to review their coverage options during open enrollment season.
eHealth's report is based on a voluntary survey of 1,351 eHealth Medicare customers, conducted in October 2019. The survey results are being released during Medicare's Annual Enrollment Period (AEP) for 2020 coverage, which began October 15 and is scheduled to continue through December 7, 2019.
"Our survey results suggest Medicare beneficiaries are getting the message that it's smart to review your coverage options every year," said eHealth CEO Scott Flanders. "Your personal coverage needs may have changed, and your prescription drug coverage or provider networks may be changing next year. New plans are also being introduced for 2020. That's why we encourage all Medicare beneficiaries to review their coverage options during open enrollment."
Highlights from the survey results released today:
- Most enrollees intend to review their Medicare options during AEP; more than one-quarter think they'll switch: 79% of respondents intend to review their options during AEP; 78% are satisfied with their coverage today. One quarter of respondents (26%) think they're likely to switch to a new plan this AEP.
- Drug costs drive purchasing decisions for a third of beneficiaries: 32% of respondents say that prescription drug costs are the number one factor they rely upon when choosing a new Medicare plan.
- New Medicare Advantage benefits interest beneficiaries: 70% of Medicare Advantage enrollees expressed interest in additional or expanded dental and vision benefits available in some Medicare Advantage plans, while 35% expressed interest in coverage for alternative medicine treatments.
"Nearly a third (32%) of survey respondents said prescription drug costs were the number one factor they consider when shopping for a new plan," said Mr. Flanders. "As we recently reported elsewhere, eHealth's prescription drug coverage comparison tool helped seniors find Medicare Advantage plans that would allow them to save an average of $1,144 based on their personal drug regimen."
Read the full report.
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private online health insurance exchange where individuals, families and small businesses can compare health insurance products from brand-name insurers side by side and purchase and enroll in coverage online and over the phone. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources, exceptional telephonic support, and powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online or over the phone through Medicare.com (www.Medicare.com), eHealthMedicare.com (www.eHealthMedicare.com)